Kirtland Schools have hit the wall…News Flash…so have taxpayers

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Wow, looks like Kirtland taxpayers have some decisions to make in May.  Their school board has agreed, unanimously I may add, to place a whopping 5.9 mill operating levy on the May ballot.  Please remember that a 1 mill levy equals $35.00 per year for every $100,000 of home value.  ($100,000 home value x 35% = taxable value of $35.000 x .001= $35.00)  [1 mill = .001]

So a 5.9 mill levy equals $206.50 for every $100,000 of home value.  There are not many $100,000 homes in the Kirtland schools taxing district.

Let say the home is valued at $500,000, they would be paying $1,032.50 additional per year…..yikes!.. ($500,000 x .35 x .0059) or ($206.50 x 5)

When you add in the .4 mill Crime Lab levy and the .7 mill ADAMHS renewal levy, Kirtland taxpayers will be deciding on 7.0 mills for their property taxes.

Hmmm, 7 mills equals $245.00 for each $100,000 of home value ($35 x 7).  For those with a $500,000 home value, passing all three levies means an annual tax of $1,225.00 per year ($245 x 5).  Since the .7 mill for the ADAMHS Board is a renewal the actual tax increase would be $1,102.50 for a $500,000 home value

The generally accepted threshold for housing affordability is no more than 30% of your annual income can be spent on mortgage, utilities, and property taxes. So $1,102.50 in taxes means that taxpayers will have to increase their annual income by $3,675.00 ($1,102.50 / .3) just to cover the increase cost in the property taxes.

(Comment: For many seniors without substantial retirement savings this is going to be difficult; for those working for a living, it may seem like they are working just to pay taxes.

It is great that most everyone will get a break in our federal taxes thanks to President Trump, but are we really any further ahead when we turn around and pay for increased local taxes.  We need to address all of the factors that may be increasing our  property taxes, or decide if we need to continue to pay for services that we can no longer afford.  

THIS IS NOT SUSTAINABLE!….WE WILL NEED A NEW APPROACH…)

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